Prices rose as Dutchess County NY home sales fell in December 2021
Dutchess County NY home sales in December 2021
Dutchess County NY home sales in December 2021 of single-family detached homes fell 40.1 percent, going from 357 in December 2020 to 214 this December. Homes sold during the month ranged in price from $120,000 to $ 2,750.000, built between 1733 and 2021 with square feet from 728 to 7,360.
There were ten transactions over a million dollars, with prices ranging from $1,190,000 to $2,750,000.
Average and Median Price for Detached Homes in December 2021
At $476,497 the average sale price for Dutchess County NY rose 8.3 percent when compared to $440,190 at the same time last year.
A median price of $400,000 this December was up 8.4 percent over the same time last year when the median was $369,000.
Days on Market during December 2021
Homes were on the market 68 days this December which was 9.3 percent fewer days when compared to 75 days in December 2020
Inventory and Purchase Offers in December 2021
Inventory continues to decline, at 390 this December it was down 54.7 percent when compared to an inventory of 861 in December 2020.
Purchase offers decreased by 44.2 percent going from 342 in December 2020 to 191 this December.
The absorption rate (the time it would take to work off the present inventory) was 1.82 months this December compared to 2.41 months last December.
Comparison Dutchess County NY Home Sales for December 2021
| Data | December 2020 | November 2021 | December 2021 |
| Average Price | $ 440,105 | $ 480,845 | $ 476,497 |
| Median Price | $ 369,000 | $407,500 | $400,000 |
| # of Sales | 357 | 172 | 214 |
| Days on Market | 75 | 69 | 68 |
| Inventory | 861 | 493 | 390 |
| Purchase offers | 342 | 233 | 191 |
| Absorption rates | 2.41 | 2.87 | 1.82 |
| JFIVE Homes Realty LLC 845-594-9947 |
Dutchess County NY home sales in December 2021 for attached homes
Dutchess County NY homes sales in December 2021 for attached homes (Coops, Condos, and townhouses) fell 25 percent when compared to December 2020. At that time there were 60 sales versus 45 this December. The units sold ranged from $ 85,000 to $815,000.
These units were built between 1840 and 2020 with square feet from 640 to 3416.
Median and average prices of attached homes in December 2021
The attached home’s average sale price of $283,687 in Dutchess County NY rose 5 percent compared to the $270,304 recorded in December 2020.
A median sale price of $245,000 was 2.7 percent higher than the median price of $238,500 last December.
Days on Market in December 2021 for Attached Homes
Days on market at 69 fell 17.0 percent when compared to the 84 days last December.
Attached Homes Inventory and Purchase offer for December 2021
Inventory at 61 fell 61.1 percent this December when compared to 157 for the same time last year.
Purchase offers at 26 this December was down 55.2 percent when compared to 58 offers recorded last December.
The absorption rate at 1.36 months was down from the 2.62 months in December 2020 ( The time it would take to work off the present inventory).
Comparison Dutchess County home sales of attached homes in December 2021 to 2020
| Data | December 2020 |
November 2021 | December 2021 |
| Average Price | $270,304 | $287,004 | $ 283,687 |
| Median Price | $238,500 | $231,000 | $245,000 |
| # of Sales | 60 | 54 | 45 |
| Days on Market | 84 | 70 | 69 |
| Inventory | 157 | 76 | 61 |
| Purchase offers | 158 | 49 | 26 |
| Absorption rates | 2.62 | 1.40 | 1.36 |
| JFIVE Homes Realty LLC 845-594-9947 |
Reflection and looking forward
There was a significant drop in sales in both the attached and detached home market in Dutchess County NY. At the same time, home prices rose, while inventory is at an all-time low when you compare activities between 2012 and 2021. Homes also sold faster and many above the list price due to multiple offers
If the inventory continues to decline price will also rise.
The expectation for 2022 is for the mortgage rates to get more expensive, so if you are selling and then buying doing so sooner might be prudent.
Then again there are so many variables that could impact the market either way.
Are you planning to sell or buy a home in 2022? I would welcome the opportunity to assist you. Text or call Jennifer Fivelsdal, Real Estate Broker 845-594-9947
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